Will Gradualism Work When Shock Therapy Doesn"t?
AbstractWhen shock therapy is politically infeasible, will gradualism work? This paper takes up this question by: (i) building a political economy model in which it makes sense; (ii) stating the relevant political economy constraint rigorously; and (iii) analyzing the question in the context of a neoclassical model of adjustment, based on Mussa (1978). The paper answers the question in the affirmative, thus contributing to the scientific and policy literature on the economic analysis of policy reform. Copyright 2003 Blackwell Publishing Ltd.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Economics and Politics.
Volume (Year): 15 (2003)
Issue (Month): 1 (March)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0954-1985
Other versions of this item:
- F11 - International Economics - - Trade - - - Neoclassical Models of Trade
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
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- Laurila, Juhani & Singh, Rupinder, 2000. "Sequential reform strategy: The case of Azerbaijan," BOFIT Discussion Papers 8/2000, Bank of Finland, Institute for Economies in Transition.
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